Recently I can across an Baltimore Sun article
called, “The
Extra Dollars You’re Paying at the Pump are Going to Wall Street Speculators”,
in the article it stated that the reason that gas prices are going up is that,
speculators in wall street are driving up the prices, they say that this is what
happened into 2008 as well. Now I do not
agree with that opinion but I do agree that the recent activity may have been
caused by:
We were to first to create alternatives to crude oil such as E-85 ethanol, but we are now the last in the world to actually utilize this technology. So in order for us to be a great and successful country we need to grab the opportunity when we are ahead instead of creating an idea and then let the world get ahead of us and then catch up behind everyone else. We are the world’s only superpower I believe that it is time we acted like one.
We always talk about finding alternatives to oil, and I think now we are really starting to see the move. For example, there are more and more cars which are electric. I'm glad to see that the car industry is taking the move now we need to be sure that other industries are doing the same. The importance of finding alternatives to oil is essential, otherwise we will either destroy our ecosystem or run out of the limited resource.
ReplyDeleteIn one of my classes we are examining the effects of burning oil and the environment. The government really hides some of the disastrous effects from the general public, and we think everything is okay. I mean, just go out 20 miles and look at Los Angeles, you will probably see a giant layer of fog due to all the industries and cars. Really this effect builds up, and we the general public need to recognize that we need to move to alternative sources of energy at a much more rapid pace than is currently happening.
I think it is ridiculous that America is exporting oil for the first time while we are still paying outrageous rates at the pump. Why aren't we just keeping the oil here and importing what extra we need? Yeah yeah, I get there's more to it than that and there's a global market and all, but while we complain about prices being so high we actually have a way to keep them down - we're just not doing it. In the end, it comes down to the oil companies wanting to get as much as they can, and, as long as we're paying for it, they'll keep the prices high.
ReplyDeleteLike Brenton, I think the new movement for alternative fueled vehicles is a great first step. However, I think you are right in that if we are the first to come up with a lot of these technologies and the last to implement them, there is a big problem. We're holding ourselves back. In a hundred years there may be no oil-fueled vehicles around, but as long as it's the way to make the most money for the excessively wealthy oil tycoons that doesn't seem likely. We'll probably just suck this earth dry and then figure out what to do when the time comes.
In terms of being a global political crisis, I could not be in more agreement. However, I think the energy crisis is merely one facet of a far greater issue. With the global economy being stronger than it ever has been, regulating financial institutions and market segments is becoming more and more difficult on a country to country basis. China, India, and other heavy exporting companies rely on exploited labor and trade loopholes to justify inhuman treatment of workers or tax incentives for large corporations. Countries specific regulatory agencies employed to govern organizations like Wall Street are finding difficult blockades when dealing with international trade tariffs and policies. The world's economy has become so interconnected that until a global regulatory system is created, economies will continue to be unstable and inconsistent.
ReplyDeleteI also agree with the problems you identify here in this article. It really comes down to getting off of our reliance on oil. As revealed by countless documentaries, we have the technology and ability to develop commercial methods of fuel and power but we are just sitting on them. There is too much money still to be made in oil to just give up on it now. And unfortunately the people who make profit off the oil are the people with the money and the power in the world. Of course we see little efforts popping up here and there, hybrid and electric cars, solar-powered buildings, wind turbines, etc. but nothing on a grab commercial scale. It is still too expensive to manufacture. I think we are going to pump oil until our last drop before someone decides to switch our system to something else. As depressing as it is, I believe that to be the truth.
ReplyDelete